Success of Zomato: Market Strategies

Zomato

Zomato founded in 2008 by Deepender Goyal and Pankaj Chadha, is an Indian multinational restaurant aggregator and food delivery platform. Initially named FOODIEBAY, It began as an online restaurant discovery platform, providing users with menus, reviews, and ratings. Over the years, Zomato expanded globally, reaching numerous countries.

The platform evolved beyond restaurant discovery to incorporate food delivery services, allowing users to order from a wide range of restaurants. Zomato’s success was driven by its user-friendly app, extensive restaurant database, and partnerships with local eateries. The company also introduced features like Zomato Gold, a subscription service offering exclusive dining and drinking privileges.

Zomato went through various funding rounds, attracting significant investments, and it eventually went public with an IPO in July 2021. The IPO marked a milestone for the Indian Tech Industry. Despite facing competition in the fiercely competitive food delivery sector, Zomato remained a prominent player, adapting to changing market dynamics and consumer preferences.

Deepender Goyal:-

Deepender Goyal is the co-founder and CEO of Zomato. Born in 1983 in Punjab, India. Goyal started Zomato in 2008, transforming it into a global food-tech giant. He holds a degree in Mathematics and Computing from IIT Delhi. Goyal’s leadership has been crucial in Zomato’s expansion, offering services in numerous countries. Known for his entrepreneurial vision, he has played a pivotal role in shaping the food delivery Industry. Goyal’s commitment to innovation and customer satisfaction has contributed significantly to Zomato’s success as a leading player in the food-tech domain.

Pankaj Chadha:-

Pankaj Chadha is one of the co-founders of Zomato. Played a pivotal role in establishing Zomato. He served as Chief Operating Officer before leaving Zomato in 2018. His contributions significantly shaped Zomato’s growth making it a Global food-tech Industry.

Marketing Strategies of Zomato Entering into the Global Market:-

Food Delivery is divided into 3 stakeholders: customers, delivery partners, and restaurant partners. Zomato charges commissions from restaurant partners for listing on its app and delivering food. Delivery charges are paid by users and are passed down to delivery partners. Tips paid by customers are also passed to delivery partners. It also earns advertisement revenue.

Restaurant Advertising:-

Zomato also charges commissions to restaurants for prominent listings on the feed. Restaurants can pay to have their events or deals which increases visibility and conversions from Zomato Consumers.

1) HYPERPURE:-

Zomato launched HYPERPURE in 2019, which sources products and supplies directly from farmers, mills, producers, and processors for its restaurant partners. The restaurant partners receive a ‘Hyperpure Inside‘ tag on their Zomato site, which is meant to offer guests assurance about the quality of the foods used in the eateries.

2) ZOMATO GOLD:-

Zomato Gold is a premium dining and social drinking membership club that offers its customers exclusive benefits like a complimentary dish and up to two complimentary drinks each time one visits their restaurant/bar.

3) ZOMALAND:-

Zomato made its debut in the branded live events industry. It charges consumers an entry fee to visit ZOMALAND, where they can see live musical performances and other events in addition to food.

Achievements:-

  • Awarded as the startup of the year in 2014
  • The CEO of Zomato has been honored with NDTV Indian Man of the Year.
  • No1 food delivery company in India.

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